Goldman Sachs fined $513K by FINRA over faulty surveillance reports – Compliance Week

Feb 8, 2024

FINRA imposed a $512,500 fine on Goldman Sachs for failing to monitor certain securities types for manipulative trading activities for over ten years, from February 2009 to April 2023. The firm neglected to include warrants, rights, units, and some OTC equity securities in nine automated surveillance reports, affecting about 5,000 alerts. This oversight was identified during cross-market surveillance by FINRA, which also noted Goldman Sachs lacked a policy to ensure all traded securities were covered in surveillance reports. By April 2023, Goldman Sachs had addressed the issue by adding the omitted securities to surveillance reports and had previously settled other charges with FINRA for related reporting and supervision violations.



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